On the 8th July, Chancellor Rishi Sunak announced a considerable Stamp Duty cut for properties up to £500,000, saving buyers an average of £4,500 in the purchase of their new property until 31st March 2021, further extended until 30th June 2021.
In a bid to boost the property market, the Chancellor’s move has already sent positive ripples through the Surrey property market, with a boost of enquiries and valuations.
Speaking about the move, Sunak explained, “We need people feeling confident – confident to buy, sell, renovate, move and improve. That will drive growth. That will create jobs.”
The considerable move will mean that together with first-time buyers, thousands more can now make their move up and across the property ladder.
Mclarens Managing Director, Dean Beasley spoke of the Chancellor’s move:
“Cutting Stamp Duty is a welcome move for the housing industry, of which we have already witnessed a positive uplift in the Surrey property market. We have seen a surge in activity on our Online Valuation tool, so its certainly put a spring in Surrey’s step as lockdown restrictions continue to lift.”
Be first in the know of our newly listed homes for sale, contact Mclarens today to make your Surrey move.